Indicators: Extended Heikin Ashi Indicator
Hi, is the indicator also available for MQ4? Thank you
Hi Dominik, I am interested in your indicator but I have issues understanding your code and thus what exactly is the advantage/difference between your version and the standard heiken ashi indicator. For instance, I do not understand when bars are colored in gray. Are the Heiken Ashi candles printed on top of the normal bars as one can see little green and red bar lines as well. Thus I was wondering whether you could provide a short description of your indicator? That what be great. Thank you very much!
Gray candles show indecision. This is determined by shadows on both sides.
The idea was to remove "false signaling", so a candle needs to be clear in direction to receive a color other than gray.
Yes, the display is an overlay.
The indicator is not available for MQL4, but should be very easy to transfer.
Hi Dominik, thanks for your reply. is the coloring based on the original candles? So if an original candle has wicks on both sides, then the haiken ashi candle is given a gray color? Because as can be seen from your image there are also blue and red heiken ashi candles which have wicks on both sides and are still colored in blue or red. There are also gray heiken ashi candles which have wicks only in one direction. That is why I am guessing that the coloring is based on the original candles? In other words: First heiken ashi values are calculated and then you check the original candle to see if there are wicks on both sides. If this is the case, the color is gray otherwise it is blue or red dependend on what is the outcome of the heiken ashi calculation. Is this correct? I find this very interesting that's why I am asking again. Thank you!
No. It is based on the previous candle. Used as confirmation.
Interesting that the colouring looks "obviously correct" although you are not using symmetric conditions for painting candles blue or red:
if(... || (MathMin(haClose, haOpen) < haLow) ) { ExtColorBuffer[i] = 1.0; } // red if no lower shadow if(... || (MathMax(haClose, haOpen) < haHigh) ) { ExtColorBuffer[i] = 0.0; } // blue if upper shadow
I'm curious. Where did you find the conditions for the HA colours?
Wouldn't we expect
ExtColorBuffer[i] = (haClose > haOpen) ? 0.0 : ( (haClose < haOpen) ? 1.0 : 2.0)
similarly to Heikin Ashi Colors (HAC) [cI8DH] - TradingView or HeikinAshi_SepWnd?
Otherwise, I consider this a great example for a coding style to be desired.
HeikinAshi_SepWnd
- www.mql5.com
The Heikin Ashi indicator drawn in a separate subwindow with the ability to choose a period
Well, I developed them myself, haven't found them anywhere, to be honest.
But thank you for the flowers.
Take a close look at how price values are compared, you will see, there is no "gap" in between, although I don't remember the code by heart. I know, I code (usually) complete.
usefull indicator, thanks for sharing. wish you healthy days
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Extended Heikin Ashi Indicator:
Extended version of the original Heikin Ashi indicator.
Author: Dominik Egert